Hours after Zach Randolph helped the Memphis Grizzlies win their first playoff game, the franchise rewarded him with a four-year, $71 million contract extension that was agreed to Saturday night, according to league sources.

Of the $71 million, $66 million is fully guaranteed and the fourth and final year of the deal is a player option, sources said. Randolph has incentives based on individual and team achievements of $1.3 million each season, according to sources.

Randolph confirmed he had a new four-year deal Monday, saying he planned to sign it in coming days.

Randolph, a 10th-year veteran, led the Grizzlies to a stunning 101-98 victory over the San Antonio Spurs Sunday afternoon. The 6-9 forward posted game-highs of 25 points and 14 rebounds as 8th-seeded Memphis dropped the Western Conference's top seed.

It was the Grizzlies' first playoff victory in 13 tries. They'd been swept in their three previous trips to the playoffs.

With the 29-year-old Randolph as a foundation piece, Memphis appears to be one of the league's most promising young squads. In addition to Randolph, who averaged team-highs of 20.1 points and 12.2 rebounds this season, the Grizzlies also signed Rudy Gay and Mike Conley to long-term deals within the past year.

Acquired prior to the 2009 season in a trade with the Los Angeles Clippers, Randolph is in his second season with Memphis and has career averages of 17.6 points and 9.2 rebounds.

Randolph was drafted 19th overall by the Portland Trail Blazers in 2001. After six seasons with the Blazers, Randolph spent a little over a year with the New York Knicks followed by a year with the Clippers before landing in Memphis.

Chris Broussard covers the NBA for ESPN The Magazine. Information from The Associated Press was used in this report.